MainStreet Investment Advisors LLC Grows Position in Duke Energy Corp (NYSE:DUK)

MainStreet Investment Advisors LLC lifted its holdings in shares of Duke Energy Corp (NYSE:DUK) by 12.6% in the first quarter, Holdings Channel.com reports. The fund owned 11,386 shares of the utilities provider’s stock after purchasing an additional 1,272 shares during the period. MainStreet Investment Advisors LLC’s holdings in Duke Energy were worth $921,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Savior LLC bought a new position in shares of Duke Energy during the fourth quarter valued at approximately $27,000. Solstein Capital LLC bought a new position in shares of Duke Energy during the fourth quarter valued at approximately $27,000. Clear Harbor Asset Management LLC bought a new position in shares of Duke Energy during the fourth quarter valued at approximately $27,000. Mine & Arao Wealth Creation & Management LLC. bought a new position in shares of Duke Energy during the fourth quarter valued at approximately $27,000. Finally, Firestone Capital Management bought a new position in shares of Duke Energy during the fourth quarter valued at approximately $142,000. Institutional investors own 64.29% of the company’s stock.

In related news, CEO Lynn J. Good sold 16,400 shares of the company’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $91.86, for a total transaction of $1,506,504.00. Following the transaction, the chief executive officer now directly owns 302,325 shares of the company’s stock, valued at approximately $27,771,574.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Harry K. Sideris sold 1,285 shares of the company’s stock in a transaction dated Thursday, May 14th. The shares were sold at an average price of $80.42, for a total value of $103,339.70. Following the transaction, the senior vice president now directly owns 5,396 shares in the company, valued at $433,946.32. The disclosure for this sale can be found here. Insiders have sold a total of 18,213 shares of company stock worth $1,652,221 over the last ninety days. 0.11% of the stock is currently owned by corporate insiders.

A number of equities analysts have issued reports on the company. Morgan Stanley decreased their price objective on Duke Energy from $96.00 to $87.00 and set an “equal weight” rating for the company in a report on Friday, May 15th. Barclays dropped their price objective on Duke Energy from $104.00 to $79.00 and set an “equal weight” rating on the stock in a research report on Thursday, March 26th. Bank of America reaffirmed a “neutral” rating and set a $83.00 price objective (down from $93.00) on shares of Duke Energy in a research report on Wednesday, May 13th. Wells Fargo & Co dropped their target price on Duke Energy from $108.00 to $88.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Finally, Credit Suisse Group raised Duke Energy from a “neutral” rating to an “outperform” rating and raised their target price for the stock from $96.00 to $108.00 in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the company’s stock. Duke Energy has a consensus rating of “Hold” and an average target price of $93.29.

Shares of DUK traded up $0.89 during trading hours on Friday, hitting $83.23. The company had a trading volume of 2,760,557 shares, compared to its average volume of 3,528,815. The company has a market capitalization of $60.44 billion, a PE ratio of 16.45, a price-to-earnings-growth ratio of 3.42 and a beta of 0.33. The company has a current ratio of 0.67, a quick ratio of 0.45 and a debt-to-equity ratio of 1.25. Duke Energy Corp has a one year low of $62.13 and a one year high of $103.79. The company’s fifty day moving average price is $84.10 and its two-hundred day moving average price is $89.38.

Duke Energy (NYSE:DUK) last released its quarterly earnings results on Tuesday, May 12th. The utilities provider reported $1.14 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.19 by ($0.05). The company had revenue of $5.95 billion during the quarter, compared to the consensus estimate of $6.24 billion. Duke Energy had a return on equity of 8.13% and a net margin of 15.17%. The company’s revenue was down 3.5% on a year-over-year basis. During the same period in the previous year, the firm posted $1.24 earnings per share. Analysts forecast that Duke Energy Corp will post 5.19 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 16th. Investors of record on Friday, May 15th will be given a dividend of $0.945 per share. This represents a $3.78 annualized dividend and a yield of 4.54%. The ex-dividend date of this dividend is Thursday, May 14th. Duke Energy’s dividend payout ratio is currently 74.70%.

Duke Energy Company Profile

Duke Energy Corp. engages in distribution of natural gas and energy related services. It operates through the following segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure, and Commercial Renewables. The Electric Utilities and Infrastructure segment conducts operations primarily through the regulated public utilities of Duke Energy Carolinas, Duke Energy Progress, Duke Energy Florida, Duke Energy Indiana and Duke Energy Ohio.

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Institutional Ownership by Quarter for Duke Energy (NYSE:DUK)

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